STOCKS NEWS EUROPE-Taylor Wimpey down as cash worries perist

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15:21GMT 25Nov2008-Taylor Wimpey down as cash worries perist

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Shares in UK housebuilder Taylor Wimpey (TW.L) drop 36.5 percent, the biggest FTSE 250 .FTMC faller as funding worries persist and gloom mounts for Britain's property market.

"They've still got banking facilities to be rearranged it appears that they're struggling in terms of support for an equity raise," says Panmure analyst Mark Hughes. "I think people are very concerned that the equity in this company is valueless or close to valueless."

Credit Suisse also cuts its share price target Taylor Wimpey to 10 pence from 70 pence.

Shares in fellow housebuilders Barratt Developments (BDEV.L) and Persimmon (PSN.L) fall 9.5 to 14 percent as well after price target cuts by Credit Suisse.

Reuters messaging rm://ben.deighton.reuters.com@reuters.net

15:12GMT 25Nov2008-European shares trade higher after strong US open

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European shares stay higher after Wall Street rises at the open. The FTSEurofirst 300 .FTEU3 index of top European stocks is up 2.3 percent at 847.75 points as two benchmarks across the Atlantic .SPX .DJI trade up between 1.6 and 1.8 percent, though the Nasdaq .IXIC falls 0.2 percent.

Banks and oil stocks add most points to the index, with HSBC (HSBA.L) up 3.9 percent and Credit Suisse (CSGN.VX) up 10.5 percent.

Standard Chartered (STAN.L) shares soar 22.3 percent as its plan to raise 1.8 billion pounds in a rights issue removes a worry about its capital position and the bank should have a smoother ride than other fundraisings, analysts say.

But BHP Billiton (BLT.L) is the top weighted gainer on the index, adding 16.5 percent after dropping a bid to buy Rio Tinto (RIO.L), which tumbles more than 30 percent.

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Reuters Messaging rm://sitaraman.shankar.reuters.com@reuters.net

15:03GMT 25Nov2008-European drugmakers fall on EU report

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Shares in major European drugmakers fall with an EU report on the sector expected to criticise them for anti-competitive practices, according to sources.

GlaxoSmithKLine (GSK.L), Astrazeneca (AZN.L), Sanofi-Aventis (SASY.PA) and Novartis (NOVN.VX) fall between 1.3 and 3 percent, underperforming the FTSEurofirst 300 .FTEU3 index of top European shares, up 1.4 percent.

Competition Commissioner Neelie Kroes is to publish interim findings of her department's broad probe of the sector on Friday.

So-called "strategic patenting", whereby drugmakers use minor product changes to win extra patent life for medicines, plus the process of litigation used to block cheap generic rivals, will both come under fire in the hard-hitting report.

Analysts add that drugmakers are also hit as investors switch out of defensives.

Reuters Messaging rm://brian.gorman.thomsonreuters.com@reuters.net

14:57GMT 25Nov2008-StanChart soars as cashcall removes capital worry

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Standard Chartered (STAN.L) shares soar 20.3 percent as its plan to raise 1.8 billion pounds in a rights issue removes a worry about its capital position and the bank should have a smoother ride than other fundraisings, analysts say.

The Asia-focused bank unveiled the cashcall on Monday and its shares missed out on the global stock market rally that kicked off the week. But they catch up on the move and hit 886 pence, more than double the offer price of 390 pence.

Several analysts cut earnings and price targets due to the dilution from the rights issue. But many analysts had been expecting a fundraising, with Credit Suisse saying the bank is doing the right thing by boosting its core tier 1 capital ratio to 7.4 percent from 6.1 percent.

Merrill Lynch analysts say the rights issue is positive "because it addresses what we consider to be the main investor concern for the stock".

Reuters Messaging rm://steve.slater.reuters.com@reuters.net

15:03GMT 25Nov2008-European drugmakers fall on EU report

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Shares in major European drugmakers fall with an EU report on the sector expected to criticise them for anti-competitive practices, according to sources.

GlaxoSmithKLine (GSK.L), Astrazeneca (AZN.L), Sanofi-Aventis (SASY.PA) and Novartis (NOVN.VX) fall between 1.3 and 3 percent, underperforming the FTSEurofirst 300 .FTEU3 index of top European shares, up 1.4 percent.

Competition Commissioner Neelie Kroes is to publish interim findings of her department's broad probe of the sector on Friday.

So-called "strategic patenting", whereby drugmakers use minor product changes to win extra patent life for medicines, plus the process of litigation used to block cheap generic rivals, will both come under fire in the hard-hitting report.

Analysts add that drugmakers are also hit as investors switch out of defensives.

Reuters Messaging rm://brian.gorman.thomsonreuters.com@reuters.net

14:57GMT 25Nov2008-StanChart soars as cashcall removes capital worry

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Standard Chartered (STAN.L) shares soar 20.3 percent as its plan to raise 1.8 billion pounds in a rights issue removes a worry about its capital position and the bank should have a smoother ride than other fundraisings, analysts say.

The Asia-focused bank unveiled the cashcall on Monday and its shares missed out on the global stock market rally that kicked off the week. But they catch up on the move and hit 886 pence, more than double the offer price of 390 pence.

Several analysts cut earnings and price targets due to the dilution from the rights issue. But many analysts had been expecting a fundraising, with Credit Suisse saying the bank is doing the right thing by boosting its core tier 1 capital ratio to 7.4 percent from 6.1 percent.

Merrill Lynch analysts say the rights issue is positive "because it addresses what we consider to be the main investor concern for the stock".

Reuters Messaging rm://steve.slater.reuters.com@reuters.net